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Employees: 2,310
Size Xuchang Yuandong Drive Shaft (002406.SZ) is a China Consumer Discretionary company (Auto Parts: OEM) with a market value of $699M, the 3061st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.05 on 6 Nov 2026.
Performance Over six months the shares fell 24.0%, against -21.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 31.2% over the last twelve months (peer median +6.1%); the operating margin is 13.1% (peer median 4.4%).
Valuation It trades at 20.9× forward earnings against a peer median of 16.2× (6th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is -6%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.5 points above its cost of capital (8.0% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.83B | CN¥1.56B | CN¥1.27B | CN¥1.31B | CN¥1.07B |
| Revenue growth | — | +23% | -2% | +22% | — |
| Gross profit | CN¥566M | CN¥372M | CN¥244M | CN¥254M | CN¥217M |
| EBITDA | n/a | CN¥314M | CN¥212M | CN¥187M | CN¥169M |
| Net income | CN¥218M | CN¥156M | CN¥118M | CN¥94.1M | CN¥72.8M |
| Free cash flow | CN¥198M | CN¥64.7M | CN¥80.3M | -CN¥82.5M | CN¥279M |
| Capital expenditure | -CN¥3.51M | CN¥38.1M | CN¥42.1M | CN¥137M | CN¥113M |
| Total debt | CN¥167M | CN¥354M | CN¥158M | CN¥166M | CN¥576M |
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| Measure | 002406.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.6% | -4.7% | 11th highest of 21 |
| 6-month return | -24.0% | -21.6% | 8th lowest of 21 |
| Distance from 52-week high | -34.2% | -39.4% | 9th highest of 21 |
| Revenue growth (TTM) | +31.2% | +6.1% | 2nd highest of 21 |
| Operating margin | 13.1% | 4.4% | 4th highest of 21 |
| Forward P/E | 20.9× | 16.2× | 6th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 2.1% | 14.8% | 3rd least demanding of 15 |
| Growth delivered (Del g) | -6.3% | +8.4% | lowest of 15 |
| Hurdle (Req g minus delivered) | +8.3 pp | +3.2 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | +0.5 pp | -1.6 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xuchang Yuandong Drive Shaft 002406.SZ | China | $699M | -24% | +31% | 13% | 20.9× | 2.1% | -6.3% |
| S.J.S. Enterprises SJS.NS | India | $699M | +3% | +26% | 24% | 30.4× | 20.2% | +30.6% |
| Suprajit Engineering SUPRAJIT.NS | India | $701M | +11% | +18% | 7% | 23.8× | n/a | n/a |
| Zhejiang Dehong Automotive Electronic & Electrical 603701.SS | China | $694M | -29% | +35% | 2% | 110.6× | n/a | n/a |
| Changhua 605018.SS | China | $710M | -21% | -7% | -1% | 25.8× | n/a | n/a |
| Zhejiang Zomax Transmission 603767.SS | China | $711M | -20% | +3% | 1% | n/a | 23.6% | -2.7% |
| Mitsuboshi Belting 5192.T | Japan | $716M | +4% | +5% | 10% | 10.8× | -1.1% | +7.3% |
| Changzhou Tenglong Auto Parts 603158.SS | China | $719M | -22% | +9% | 4% | 15.4× | 25.1% | +18.7% |
| Zhejiang VIE Science & Technology 002590.SZ | China | $723M | -22% | +8% | 4% | n/a | 9.1% | +14.5% |
| Shentong Technology 605228.SS | China | $726M | -28% | +7% | 11% | n/a | 7.1% | +4.9% |
| Jiangsu Olive Sensors High-Tech 300507.SZ | China | $671M | -32% | -17% | 5% | n/a | 17.1% | +23.1% |
| Wencan 603348.SS | China | $670M | -22% | +3% | -7% | 58.3× | n/a | n/a |
| Reach Machinery 301596.SZ | China | $733M | -8% | +16% | 14% | n/a | 32.5% | +9.5% |
| Guizhou Guihang Automotive Components 600523.SS | China | $739M | -11% | +7% | 4% | n/a | 17.3% | +2.4% |
| Sichuan Chuanhuan Technology 300547.SZ | China | $661M | -48% | -2% | 13% | 16.2× | 14.9% | +17.3% |
| Fox Factory FOXF | United States | $748M | 0% | +2% | 5% | 15.2× | 14.6% | +10.5% |
| China Yuchai International CYD | United States | $750M | -57% | +21% | 4% | 5.6× | n/a | n/a |
| Changchun Engley Automobile Industry 601279.SS | China | $752M | -21% | -15% | -6% | n/a | 7.1% | -2.9% |
| Shenzhen Dawei Innovation Technology 002213.SZ | China | $756M | -44% | +12% | 3% | n/a | n/a | n/a |
| Fengjing New Energy Technology 002662.SZ | China | $646M | -27% | -11% | 4% | n/a | 2.6% | -5.0% |
| Depo Auto Parts Industrial 6605.TW | Taiwan | $642M | -1% | -6% | 15% | 7.5× | -12.3% | +6.4% |